China potential for domestic demand big as ever: Premier Li

BEIJING – China’s domestic demand potential is as huge as ever, despite slowing growth and a difficult economic transformation process, Premier Li Keqiang said, according to a statement on the Chinese foreign ministry website on Saturday.

Li’s comments were made on Friday in the eastern Chinese city of Hefei during a forum with German Chancellor Angela Merkel, the statement said.

“China is still one of the world’s most attractive destinations for investment,” Li said.

China’s economy is on track to post its slowest growth in 25 years. However, official data shows monthly retail sales this year have continuously increased by over 10 percent, and sectors like entertainment are expanding at a rapid clip. -Reuters